A Fraud Recovery Plan—A key Ingredient Today!
Recently,
we attended a fraud prevention seminar held by one of the big banks with
branches in the Fort Worth area. This
seminar addressed many factors that businesses are facing today, especially
with fraud. We will have additional blog
posts on many of the points identified at the seminar, however, today, we wish
to address the idea of having a fraud game plan developed if indeed you are
faced with fraud.
Fraud can be employee embezzlement,
internet theft, identify theft, false parts which fail to conform to
manufacturer specifications, etc.
Actually, there is no end to the ways in which a business owner in today’s
world can be defrauded.
The first step in the process is to
recognize that this will happen to most all business owners. In one time or other, you will be
defrauded. The real key is how do you
address this matter?
Developing a plan is the first
step. The initial steps are easy—call the
bank, change the passwords, change the bank accounts, review internal operating
procedures.
The secondary steps are more
complex. Here, one must think through
what was done initially and now enhance and build upon those ideas. It is in this phase of operation that a business
consultant can be of significant value to you.
Our experience and background will allow you to develop a plan which
will support a strong fraud recovery plan.
The best plan is to have a plan before you are faced with having to
address this matter after something bad has happened to your business. Give us a call to discuss the possibilities
today.
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